Date: 6/23/2010Written By: Jennifer Cummings, The Fratelli Group for NFTC and USA*Engage, 202-822-9491

Washington, DC – The National Foreign Trade Council (NFTC) and USA*Engage today expressed concerns over the unilateral and extraterritorial sanctions, as well as the state divestment provisions contained in the Comprehensive Iran Sanctions Accountability and Divestment Act of 2010 conference report. The associations released the following joint statement.

“Just two weeks ago, the Administration successfully garnered international support and cooperation to impose additional multilateral UN sanctions against Iran. Given this recent development, we are deeply concerned about the timing of this legislation and its unintended consequences for legitimate global commerce,” said NFTC President and USA*Engage Co-Chair Bill Reinsch.

“We continue to believe the legislation is ill-advised. Unilateral sanctions fail to produce their intended effects upon sovereign states, and the scope of these sanctions is worrisome. We realize that the conferees have made some efforts not to damage normal commerce and the global supply chain in the construction of the sanctions regime,” said USA*Engage Director Richard Sawaya.

“We endorse the commitment to duly-licensed humanitarian trade in agricultural and medical products, as well as the provision for safe operation of U.S.-made aircraft. We also are encouraged that the legislation addresses some of the legitimate concerns of U.S. companies not engaged in commerce in Iran, and that it affords the president flexibility in applying the sanctions,” Sawaya continued.

“We have and will continue to urge Congress to support the president’s multilateral and multilayered diplomacy with Iran,” Reinsch concluded.

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About USA*Engage

USA*Engage (www.usaengage.org) is a coalition of small and large businesses, agriculture groups and trade associations working to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad. Established in 1997 and organized under the National Foreign Trade Council (www.nftc.org), USA*Engage leads a campaign to inform policy-makers, opinion-leaders, and the public about the counterproductive nature of unilateral sanctions, the importance of exports and overseas investment for American competitiveness and jobs, and the role of American companies in promoting human rights and democracy world wide.

About The NFTC

The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.